To: All National Banks operating in Qatar

Subject: Payment of Return on Financial Instruments Eligible for Additional Tier 1 Capital

Referring to circular no. 47/2020 dated 4/11/2020 regarding the above subject, to regulate the payment of the return on the said instruments wither currently issued or shall be issued in future, offered in the local or international financial markets, and in accordance with the nature of these instruments, and the conditions necessary for additional Tier 1 capital as per QCB’s capital adequacy instructions,

QCB decide that the concerned banks must notify QCB, at least one month prior to preparing the quarterly financial statements with the total amount of the return to be paid and deducted from the retained earnings of such financial period. Banks shall state the effect of Capital Adequacy Ratio and Liquidity Ratio. In case banks do not get any objection from QCB during the said period, the return may be paid and deducted from the retained earnings of this financial period.

These instructions shall come into force from the date of issuance.

Best regards